ARIHANT RETAIL PVT. LTD.,,CHENNAI vs. PCIT-1,, CHENNAI
In the result the appeal of the assessee is allowed
ITA 1308/CHNY/2024[2018-19]Status: DisposedITAT Chennai09 Oct 2024AY 2018-19
Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 1308/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19 Arihant Retail Private Limited, Principal Commissioner Of 29, Namachivaya Chetty Street, V. Income Tax -1, Old Washermanpet, Chennai – 600 034. Chennai – 600 021. [Pan: Aaics-3648-F] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. T. Banusekar, Advocate अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 07.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.10.2024
For Respondent: Shri. Nilay Baran Som, CIT
Section 142(1)Section 143(3)Section 2(24)(x)Section 263Section 69C
bogus".
As the entire amount of Rs.102,43,73,377/- couldn't be disallowed, hence, to protect the interest of revenue, a moderate disallowance of business purchase amounting to Rs.10,24,37,338/- (10% of the total business purchase incurred of Rs.102,43,73,377/- is hereby made and is treated as unexplained expenditure
